Asian Shares Rise Ahead of Key US Payrolls Data – Asia Market Wrap

Asian equities climbed ahead of a critical US employment number that’s likely to shape the Federal Reserve’s policy stance.

The MSCI Asia Pacific Index inched higher as shares in South Korea, India and Australia climbed, while those in Japan, Hong Kong and mainland China sank. Futures contracts for US equities were flat ahead of monthly US payrolls data. The currency was barely moved, but US Treasury rates rose.

Traders have increased their rate-cut bets in the last week, boosted by a deluge of weaker-than-expected US data and decisions by the Bank of Canada and the European Central Bank to soften monetary policy. Global markets are set to end a two-week losing streak this week.